China's Alibaba hires NM Rothschild to advise on listing plan - report |
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Mon, 16 Jul 2007 05:11
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BEIJING (XFN-ASIA) - Internet firm Alibaba.com has hired investment bank NM Rothschild to advise it on its stock market listing, which is expected to raise up to 1 bln usd, The Daily Telegraph reported.The UK newspaper said that Jack Ma, the chairman of Alibaba, is understood to have hired Rothschild as the firm's financial adviser ahead of an anticipated flotation later this year.Earlier, the media had reported that Goldman Sachs and Morgan Stanley have been enlisted to underwrite the Alibaba share sale, which at this stage will involve only the company's business-to-business unit.Although the plans have not been publicly confirmed, Alibaba is expected to list in Hong Kong, having considered New York as an alternative venue. It is not known whether London was also considered.(1 usd = 7.57 yuan)susan.wang@xfn.comsw/kmqxfaws/xfnkmCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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